Real Estate Junkies, Contributed by Duncan Fremlin

For those real estate junkies who can’t get enough facts, stats and analysis, you might get a kick out of studying the history of entry-level purchases in this city, starting, let’s say, around 1970.

 
I first started paying attention to real estate prices in 1972 when I completed my schooling as a Property Tax Assessor and was hired by the City of Toronto to appraise houses and businesses.  At that time, our neighbourhoods were not identified in terms of average prices, days on the market, average income etc. like they are today.  There were the rich neighbourhoods of Forest Hill and Rosedale and there were all the rest.

 
If you were a first time buyer in the 1970’s, your options were huge.  Most of the houses downtown hadn’t yet been renovated so if you were willing to live in a dump, you could buy in Cabbagetown or the Annex for a reasonable price.  For those willing to cross the valley into Riverdale and Leslieville, or drive west of Bathurst to High Park, the bargains were plentiful.  Downtown was the place to be so the demand outside the core was low.

 
Over time, thanks to people like Darrell Kent (my old real estate mentor), the downtown houses began to be restored and appreciated for what they were…historic gems with exquisite period features such as stained glass windows, marble fireplace mantels etc.  This movement pushed the entry level buyers further from the downtown core and that trend continues to this day.  The city began to grow out.

 
Fast forward to 2015.   No more horizontal expansion.  Houses (detached, semi etc.) are almost out of reach for most entry level purchasers.  These buyers are now looking upward.  Condos are the thing, and have been for quite some time.  The speed with which we are expanding up is dizzying in real estate terms.

 
Not so long ago, condos went from being a hard sell to an easier sell.  Now, bidding wars are not uncommon.  What’s next?  Bidding wars on “assignments”?   Bidding wars on condo projects that haven’t broken ground?  Good grief!  Such a time here in this great city.

 

 

Duncan Fremlin  Broker RE/MAX Hallmark Realty Ltd.
416-405-8828   www.MoreThanAHome.ca

TwitterGoogle+FacebookLinkedInDiggStumbleUponBlogger PostDeliciousShare

Other News

Photo--of-Lion-for-Andre-Bermon-cmyk-article-on-John-Innes-Moss-Park

John Innes, a tale of Moss Park

Contributed By Andre Bermon. History is everywhere. It often lingers in places we least expect. The John Innes Community Recreation Centre located in the downtown neighbourhood of Moss Park is one … [Read More...]

Cabbagetown-Kawhi

CABBAGETOWN SOUTH GOES VIRAL

A new mural appeared on 50 Pembroke Street, and it is just in time for the big playoff adventure for the Raptors and the city. On the heels of other vinyl interpretations elsewhere in the city, this … [Read More...]

Pay with Cash…make someone’s day

The small independently owned neighbourhood restaurant, or any small business in our community, could use your help. The lady who serves you coffee each morning at your local Tim Horton franchise? … [Read More...]

Cabbagetown-Farmers-Market

Cabbagetown Farmers’ Market is back!

Connecting Cabbagetown with its agricultural community -Tuesdays! Riverdale Park West hosts this season, Tuesdays from 3:00 p.m. – 7:00 p.m. (just outside the farm gates), with many of the community’s … [Read More...]

Team-Bloch-clothing-drive

Thank you Cabbagetown!

Contributed by Daniel Bloch & Liora Tal-BlochSales Representatives, BLOCH Real Estate Team Our Annual Front Door Pickup Clothing Drive was a huge success!   With the continued support … [Read More...]

Globe-dining-photo-2-DinnerWithAView-(002)

Dinner with a view

Contributed by Jennifer Torres. What an interesting experience. Upping your dinner experience by dining with five of your closest friends and family in your own personal dome, sounds divine, but I … [Read More...]

Dixon Hall Youth Centre

Contributed by Bill Morneau. Toronto Centre is filled with people and organizations that care about our community and those who call it home. That’s why we saw the whole community and all three levels … [Read More...]

Impact Skateboard Club

Making and Impact

Impact Skateboard Club is a Toronto-based not-for-profit organization for children and youth, focused on inclusion and personal development through skateboarding. Programming and events are based on … [Read More...]

HomeLife-PATIO-AREA-summer-article-photo-(002)

Let the sunshine in!

Contributed by Gerald Michaud, Broker , Manager HomeLife/Realty One Ltd., Brokerage   During the summer season our Realtors stay active by helping and keeping people informed. We love … [Read More...]

Rob-Vellone-and-Chewie

A Fond Farewell to a Gentle Giant

A Fond Farewell to a Gentle Giant- Rest in Peace and May the Force Be with You! Contributed by ‘Comic book artist’ Rob Vellone I love dogs and I grew up with one of the best! I also love Star Wars. … [Read More...]

Desmond-Ryan

10-33 Assist PC

Contributed by Author Desmond P. Ryan. In our last instalment of Cabbagetown resident Desmond P. Ryan’s 10-33 Assist PC, fictional Detective Constable Mike O’Shea--a cop with a knack for working hard … [Read More...]

Cabbagetown-Youth-Centre

Cabbagetown Youth Centre History

Peter Wylie’s name was in the newspaper, and it was a problem. It was the late 1960s, and he had taken part in an amateur boxing competition in Toronto. Wylie, a rookie police officer, hadn’t realized … [Read More...]

Momentum Montessori